June 6, 2011 (Indianapolis) – Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firm, announced today the merger with Atlanta-based Stanley, Holcombe & Associates. The merger strengthens Nyhart’s expertise in public pensions and defined benefit retirement consulting and creates one of the most experienced public pension teams in the nation. Nyhart now consults to retirement clients with more than $14 billion in plan assets.
This is the second expansion by Nyhart in six months. Nyhart announced the acquisition of a business group in Kansas City, MO in December.
“We are committed to investing in actuarial and benefit firms that grow our expertise and expand our presence,” said Thomas Totten, Nyhart CEO. “With clients in 48 states; our new Atlanta office keeps us better connected with clients in this region while adding expertise that strengthens our overall team of actuaries and employee benefit administrators.”
“We are extremely pleased to be joining Nyhart, whose reputation in employee benefits consulting and administration is second-to-none,” said firm president Randall Stanley. “With this merger, our clients have an increased team of actuaries and retirement benefit advisors at their disposal, and we will have the resources to expand our public pension actuarial and related defined benefit administration services.” Stanley will assume the role of Director of Southeastern Operations for Nyhart and continue his actuarial consulting duties.
Some clients affected by the merger have already met with Nyhart. “The addition of the Atlanta team is a testament to our interest in having the best talent in the business,” said John Dowell, an actuary and principal at Nyhart who oversees the firm’s defined benefit services. “We’re excited to have the Stanley, Holcombe & Associates staff on our team of experts. When it comes to public pension and related defined benefit work, we are now established as a top-notch provider. The skills of our two staffs will complement each other well.”
Financial details of the acquisition were not disclosed. Nyhart will keep the existing Atlanta office space as well as retain the entire Atlanta staff. Further investments and additional staffing for the Atlanta office will not be disclosed at this time, but are anticipated as new business develops.
Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firms, has been operating since 1943. Nyhart is composed of actuaries, consultants, attorneys, accountants, and administrators, focusing on pension and retirement fund analysis, retirement benefits consulting and administration of employee benefits for private and public companies around the United States. An employee-owned company, Nyhart is regularly recognized as a best place to work.